Re: curious-anyone know if the 7-10 rule applies t

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In Response To: curious-anyone know if the 7-10 rule applies to *PIC* ()

Hey Ron,

Don't know if that will apply to Gold here on the daily or weekly chart, but after a strong, close to parabolic rise in bullion since July 1st, I would think that major caution is warranted on initiating new long positions now. To me, Gold in late August is looking like Silver in late April...watch for more margin increases anytime now and a sudden downdraft in precious metal prices that no one thinks can happen here inthe current environment. Just my humble two cents worth...probably wrong too, lol...guess we'll see soon enough, but I think the next 8 trading sesssions will be 'interesting' to be sure.

Best regards